Premier, Inc. (NASDAQ:PINC) Short Interest Up 89.9% in February

Premier, Inc. (NASDAQ:PINC) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 18,930,000 shares, an increase of 89.9% from the February 13th total of 9,970,000 shares. Based on an average daily trading volume, of 1,320,000 shares, the short-interest ratio is currently 14.3 days. Currently, 21.0% of the shares of the stock are sold short.

Analyst Ratings Changes

PINC has been the topic of several analyst reports. Canaccord Genuity Group reduced their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler reduced their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Robert W. Baird lowered their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.17.

Insider Transactions at Premier

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the transaction, the director now directly owns 20,668 shares of the company’s stock, valued at $442,708.56. This trade represents a 10.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total value of $437,600.00. Following the transaction, the chief operating officer now owns 111,707 shares in the company, valued at approximately $2,444,149.16. This represents a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,637 shares of company stock valued at $511,093. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Premier

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Premier by 0.8% in the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock worth $79,472,000 after acquiring an additional 32,193 shares in the last quarter. American Century Companies Inc. grew its stake in Premier by 4.2% during the 4th quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock worth $55,093,000 after purchasing an additional 104,452 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Premier by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock worth $38,444,000 after purchasing an additional 71,624 shares during the period. Brandes Investment Partners LP raised its position in Premier by 123.1% in the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after purchasing an additional 464,710 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Premier by 3.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock valued at $16,162,000 after buying an additional 21,861 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Up 1.1 %

NASDAQ PINC traded up $0.19 during trading on Friday, hitting $18.16. The stock had a trading volume of 1,347,985 shares, compared to its average volume of 1,395,602. The company has a market capitalization of $1.66 billion, a PE ratio of -181.58 and a beta of 0.39. The firm has a 50 day moving average price of $19.92 and a 200 day moving average price of $20.58. Premier has a twelve month low of $17.23 and a twelve month high of $23.56.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, February 28th. Premier’s payout ratio is currently -840.00%.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.